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LG Display could finally turn a profit next year thanks to Samsung

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Last updated: May 18th, 2023 at 16:44 UTC+02:00

In an unexpected turn of events, Samsung Electronics struck a deal with LG Display to buy some of its W-OLED TV panels. Samsung will need a whopping 2 million panels from LG Display in the first year, and then that number is only expected to rise. And as expected, this deal will help both parties.

In fact, according to a new report, LG Display could finally turn a profit next year thanks to Samsung Electronics. LG Display has suffered operating losses in recent months as it ran its OLED factory well below full capacity.

Samsung will be buying 2 million OLED panels in the first year, 3 million in the next year, and 5 million in the third year of this partnership. Market analyst Kim Dong-won at KB Investment and Securities says “The deal would play as a catalyst for LG to raise the operation rate of its OLED manufacturing line.” (via The Investor)

Supposedly, LG Display could record an operating profit of 83.2 billion won ($62.1 million) in 2024. Whether or not this will hurt Samsung Display remains to be seen. LG Display could supply Samsung DX with 77-inch, 83-inch, as well as 55-inch and 65-inch panels. This could leave a negative mark on Samsung Display's shipment figures.

Then again, the reason why Samsung Electronics made a deal with LG is that Samsung Display couldn't keep up with the demand, so perhaps the two display divisions won't step on each other's toes that much. LG Display could win big without hurting Samsung Display in the process.

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